Getty Trust President James Wood
The Getty Center (where we will be visiting for Kehinde Wiley’s talk) will surely be slashing their budget soon as news has come out that the J. Paul Getty Trust has lost amost $2 billion over the last year. We are sure other institutions don’t feel too badly for them yet as their trust is still the behemoth in the museum world at $4.5 billion. The closest endowment to the Getty’s is that of the Met (NY) at $2.1 billion, which announced plans Thursday to lay off 10% of its workforce, because their loss is approaching 28%.
The good news is attendance is growing for the Getty even as funding falls. They are also planning to still keep admissions free to the public.
